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<classification authority="sudocs">GA 1.13:AIMD-96-147</classification>
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 <subject>Financial statement audits</subject>
 <subject>Internal controls</subject>
 <subject>Financial management</subject>
 <subject>Foundations (organizations)</subject>
 <subject>Cash management</subject>
 <identifier>Congressional Awards Program</identifier>
 <identifier>South Bronx Project Fund</identifier>
 <identifier>Congressional Award Fellowship Trust</identifier>
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<titleInfo>
 <title>Financial Audit: Congressional Award Foundation&apos;s 1995 and 1994 Financial Statements</title>
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<abstract>The Congressional Award Foundation is a non-profit group formed in 1979
to promote achievement among youth in public service, personal
development, and physical fitness. GAO reviewed the Foundation&apos;s 1995
and 1994 financial statements and found them to be reliable in all
material respects. Internal controls effectively safeguarded assets from
material loss, ensured compliance with laws and regulations, and ensured
that no material misstatements appeared in the financial statements. GAO
also found no reportable noncompliance with laws and regulations. GAO
notes that although the Foundation&apos;s authority to run the Congressional
Award Program under the Congressional Award Act expired in October 1995,
the Foundation has continued to operate since then.</abstract>
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<note>Letter Report</note>
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 <topic>Financial statement audits</topic>
 <topic>Internal controls</topic>
 <topic>Financial management</topic>
 <topic>Foundations (organizations)</topic>
 <topic>Cash management</topic>
 <topic>Congressional Awards Program</topic>
 <topic>South Bronx Project Fund</topic>
 <topic>Congressional Award Fellowship Trust</topic>
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  <partNumber>Title 2 Section 806(i)</partNumber>
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  <partNumber>Title 2 Section 808</partNumber>
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